Answer to Question #323731 in Microeconomics for Ian Penn

Question

what role, if any does advertising play in the automobile industry in the (i)1950s and (ii) presently? Explain

Answer 1

Rosser Reeves, an advertising executive, established the Unique Selling Point in the 1950s (USP). Advertisers would use this strategy to establish a word that summed up their product and then use it across all media. As a result, consumers' perceptions of their goods are solidified.